ASX Trades 0.1% Higher As Omicron Fears Persist

  • Investing.com
  • Stock Market News
ASX Trades 0.1% Higher As Omicron Fears Persist
Credit: © Reuters.

By Oliver Gray

Investing.com - The ASX 200 was trading little changed at 7298.5 on Tuesday, following declines of 0.16% in the previous session as investor remained cautious amid growing concerns about the spread of the Omicron coronavirus variant undercutting the economic rebound and a critical setback to U.S. President Joe Biden's social spending bill.

ASX 200 Futures were up just 0.06%.

Among stocks, major miners lifted on rising Iron ore prices, with Rio Tinto Ltd (ASX: RIO ) up 1.15%, BHP Billiton Ltd (ASX: BHP ) adding 0.68% and Fortescue Metals Group Ltd (ASX: FMG ) up 0.92%.

Gold miners were mostly higher with Northern Star Resources Ltd (ASX: NST ) up 0.86%, Perseus Mining Ltd (ASX: PRU ) gaining 0.64%, Evolution Mining Ltd (ASX: EVN ) adding 2.28% while Newcrest Mining Ltd (ASX: NCM ) added 0.08%.

Technology shares were mostly lower as Appen Ltd (ASX: APX ) lost 0.98%, Novonix Ltd (ASX: NVX ) shed 8.56%, Altium Ltd (ASX: ALU ) lost 0.29%, Computershare Ltd. (ASX: CPU ) fell 1.14%, Technology One Ltd (ASX: TNE ) dropped 1.33% and Nextdc Ltd (ASX: NXT ) declined 1.15%. However, Xero Ltd (ASX: XRO ) and Iress Ltd (ASX: IRE ) bucked the trend, adding 1.64% and 0.79% respectively.

Financial heavyweight supported gains as Macquarie Group Ltd (ASX: MQG ) added 0.24%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) lifted 0.51%, Commonwealth Bank Of Australia (ASX: CBA ) gained 0.05%, National Australia Bank Ltd (ASX: NAB ) added 0.42% and Westpac Banking Corp (ASX: WBC ) was up 0.33%.

On the bond markets, Australia 10-Year rates were at 1.575% while United States 10-Year yields held steady around 1.421%.

Coming up in the session the Reserve Bank of Australia is set to release the minutes from their latest policy meeting .

In New Zealand, the NZX 50 fell 0.09% to 12,755.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search